FX.co ★ AUD/USD remain bearish below major resistance

We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) and we expect a steep continued drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).

Stochastic (21,5,3) remain at 92% resistance and sees bearish divergence vs price signalling a reversal is fast approaching.

Sell below 0.7580. Stop loss at 0.7644. Take profit at 0.7447.